MIRA Pharmaceuticals Shows its Prescription Pill More Palatable and Potent Than Pot

News provided by

Sep 18, 2023, 08:30 ET

BALTIMORE, Sept. 18, 2023 /PRNewswire/ -- MIRA Pharmaceuticals, Inc. (NASDAQ: MIRA) ("MIRA" or the "Company"), a pre-clinical-stage pharmaceutical company focused on the development and commercialization of a novel synthetic THC analog named MIRA1a, explored the scientific and social drivers behind its development of MIRA1a today at the Cannabinoid Derived Drug Development Summit. The Company shared data and research that positions MIRA1a as a potential future alternative prescription medication with unique properties not found in THC as well as the potential for fewer side effects.

As an invited speaker at the 6^th Annual Cannabinoid Derived Drug Development Summit held in Boston, Dr. Adam Kaplin, President and Chief Scientific Officer of MIRA Pharmaceuticals, said that Mira1a is a new molecular entity that in pre-clinical studies enhances cognitive performance and diminishes anxiety, while potentially aiding models of neuropathic pain.

"Because marijuana often impairs cognition, it can worsen performance in school or at work and make it dangerous to drive," said Dr. Kaplin. "Research and studies have also linked heavy marijuana use in children and adolescents to declines in IQ, and in adults has negative effects on attention, memory, and learning. With one molecular change from THC to Mira1a, we now have an opportunity to have a substantial impact on the future of cannabinoids in healthcare and disease."

Dr. Kaplin, previously the Chief Neuropsychiatric Consultant to the Johns Hopkins MS Center of Excellence and the founding Director of the Johns Hopkins Ketamine Clinic, was invited to share the latest pre-clinical research on mice. The results showed that when given MIRA1a, mice doubled their cognitive performance.

"Healthcare professionals are increasingly turning to marijuana for the benefits it can provide patients, but for a significant number of patients, the unwanted side effects continue to remove it as a viable option," added Erez Aminov, the Chief Executive Officer of Mira Pharmaceuticals.

For more information, please reference MIRA's publication, Getting into the weeds on cannabis: Known potential side-effects and toxicity, available on the Company's website at https://www.mirapharmaceuticals.com/mira1a.

About MIRA Pharmaceuticals, Inc.

MIRA Pharmaceuticals, Inc. (Nasdaq: MIRA) is a pre-clinical-stage pharmaceutical development company developing an unscheduled novel synthetic THC analog. This novel compound is currently under investigation for potentially treating adults suffering from anxiety and cognitive decline, often associated with early-stage dementia. MIRA1a, if approved by the FDA, could mark a significant advancement in addressing various neuropsychiatric, inflammatory, and neurologic diseases and disorders. Based on pre-clinical studies conducted on behalf of the Company, the Company believes that MIRA1a may enhance the therapeutic potential for treating anxiety, cognitive decline, and neuropathic pain with potentially fewer side effects than THC. Furthermore, the Company's studies indicate that MIRA1a, rather than impairing cognition like THC, produces enhanced cognitive performance.

The U.S. Drug Enforcement Administration (DEA)'s scientific review of MIRA1a concluded that MIRA1a is not considered a controlled substance or listed chemical under the Controlled Substances Act (CSA) and its governing regulations.

Additional information about the Company is available at: www.mirapharmaceuticals.com.

Forward-Looking Statements

This press release contains forward-looking statements regarding the Company's current expectations. These forward-looking statements include, without limitation, references to the Company's expectations regarding the closing of the public offering and its anticipated use of net proceeds from the offering. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to the satisfaction of customary closing conditions related to the public offering, or factors that result in changes to the Company's anticipated use of proceeds. These and other risks and uncertainties are described more fully in the section captioned "Risk Factors" in the Company's Registration Statement on Form S-1, as amended, related to the public offering (SEC File No. File No. 333-273074). Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

SOURCE MIRA Pharmaceuticals, Inc.